Judy (Rosemary Lane) and Johnny (Johnny Downs) are orphaned siblings being raised by Tony Rocadero (Charles Calvert), a Hollywood restaurateur who knows no limit in supporting his adopted children, even sending them both off to college. The film opens with a present-day (present-day 1944) sequence of cameo appearances by 1940s Hollywood celebrities, then becomes a series of flashbacks explaining the history of the Hollywood Trocadero, usually in the form of musical numbers by the various types of big band, singing-dancing and stand-up acts which had kept the club going. Along the way, both Judy and Johnny find love and learn the difference between pretentious upper-class fronting and real-people sincerity.